Blog Post: FHLBank San Francisco Joins Affordable Housing Roundtable with US HUD Secretary Marcia Fudge
FHLBank San Francisco President and CEO Teresa Bryce Bazemore joined U.S. Secretary of Housing and Urban Development Marcia Fudge and representatives from Mayors and CEOs for U.S. Housing Investment at a recent roundtable discussion focusing on the affordable housing crisis. Held Sunday, June 4, in Reno to coincide with the 90th Annual Meeting of the U.S. Conference of Mayors, the independent event drew public and private sector leaders into an in-depth exploration of factors impacting availability of affordable and low-income housing, including lack of inventory, and a productive discussion of potential sustainable solutions.
Ms. Bazemore and Secretary Fudge were joined at Silverada Manor, an affordable housing community, by 10 mayors and community leaders from around the U.S., including.
– Mayor Libby Schaaf, Oakland, Calif. – Mayor Todd Gloria, San Diego
– Mayor Jim Kenney, Philadelphia – Mayor Darrell Steinberg, Sacramento, Calif.
– Mayor Bruce Harrell, Seattle – Mayor Andre Dickens, Atlanta
– Mayor Jane Castor, Tampa, Fla. – Mayor Lucy Vinis, Eugene, Ore.
– Mayor Michael Hancock, Denver – Mayor Steve Williams, Huntington, W.Va.
– Mayor Martha Guerrero, West Sacramento, Calif.
Roundtable with HUD Sec. Fudge Discusses Access to Affordable Housing
Christine Hess, executive director of the Nevada Housing Coalition, also contributed to the conversation. Earlier this year, Hess’s nonprofit was awarded a $500,000 grant from FHLBank San Francisco to build capacity for affordable housing development statewide, which is an increasingly urgent need throughout Nevada. The grant is just one example of how FHLBank San Francisco is working with its member financial institutions and alongside public and private stakeholders to expand access to quality low-income housing throughout its three-state district of Arizona, California, and Nevada.
HUD Secretary Fudge cautioned that market conditions in Nevada are ripe for creating a tenuous housing situation akin to that found in Los Angeles and San Francisco. Out-of-state investors have been scooping up properties, in most instances with an eye toward turning profits, and have exacerbated the increasing scarcity of reasonably priced homes for rent or purchase. Although HUD is working to provide communities with resources for affordable housing, progress will require collaboration across every level and sector—local, state and federal, public and private.
FHLBank San Francisco is committed to being part of that collaborative effort, joining Mayors and CEOs for U.S. Housing Investment earlier this year and continuing to explore solutions with its members, partners (such as HUD), and communities throughout Arizona, California, and Nevada.